Built in the mid 1920′s the WilMar estate has come to Vancouver’s real estate market for the first time in 86 years. Neighbour to the iconic Casa Mia, the availability of this treasured property represents an incredible opportunity to acquire a trophy parcel of Vancouver’s best of the best locations.

Heritage

This notable family home is designated as Heritage B. Nearly 100% of the interior is in original condition. The exterior facade is a combination of brick and British Columbia’s first growth timber. At almost 9,000 square feet in size, amongst other rooms are two dining rooms, office, parlor, reading room, grand room, five bedrooms, a finished attic, kitchen and servant’s quarters. Many rooms have fireplaces, with oak hardwood floors featuring walnut trim though out the home that are in prime condition. It is untouched and unchanged from it’s days of mid 1920′s grandeur.

Views

This exceptional Tudor Style home is situated on almost 2 acres above the South West Marine Drive escarpment. High above the Fraser River this 84,831.7 square foot lot carries incredible view potential. Vistas of the Fraser Delta, Vancouver International airport, the Richmond flatlands, Marine Drive Golf course out and beyond to the Gulf Islands and further to Vancouver Island.

• Priced at land value, the estate of this exclusive property will consider offers to purchase at $8,500,000.

• Full details here
• Lot Plan
• Floor Plan

Buying a home is replete with mystery. Most Vancouver home mysteries can be sorted out if you know the questions to ask in advance. Your Vancouver Realtor®, mortgage broker and legal counsel will help sort through the majority of the critical ones in advance of moving in.

Once you move in there are however, an entire new set of questions that will arise. It’s a good idea to use this list to help you sort through the ones that may be overlooked.

Other Things You Need to Know About Your New Home

Make a point of asking the Seller and your Vancouver Realtor® to help take the mystery out of the following items:

• Where is the main water shut off?
• Where is the electrical panel, main shutoff?
• Where is the closest hospital/emergency?

• Are there copies of any appliances under warranties?
• Are there copies of product manuals for appliances?
• Is there a landscape plan or a list of outdoor plants and how to care for them?
• What are the names and phone numbers of immediate neighbours?
• Are there children living on the street?
• Do the neighbours have a dog(s)?
• Where is the school bus stop?
• What day is trash pickup?
• What do I do with recyclables?
• What are the neighbourhood favourite restaurants, stores and parks?
• Can you recommend a dry cleaner, salon, mechanic, gardener etc.?
• Who did you use for lawn care, snow removal etc.?
• Is there an electrician, plumber or technician familiar with the systems in the house?
• What are the names of the paint colours used in the house?
• Are there any light switches that operate something unexpected?
• Is there a sump pump? Is it alarmed? Where is the switch?
• What is the alarm code and the alarm company’s phone number?

Last, don’t forget to ask about the room at the top of the stairs.

Photo Credit via

The National Association of Realtors (NAR)is the U.S. counter part to our very own Canadian Real Association (CREA). By comparison, CREA with some 100,000 Realtor&:reg; members is a the small brother to NAR’s 1,079,687.

NAR as with CREA, conducts research in a number of real estate related projects that provide data to help consumers and Realtors®. One such project provides some answers that sheds light on Home Buyer activity.

Home Buyer Statistics

The results offered below are derived from survey’s conducted in the U.S. by the NAR. Though the nuance of Canadian Home Buyer patterns may differ, the results are derived from a greater population base and as such, bears credence.

Active home search (median):

• Number of weeks searched: 12
• Number of homes seen: 15

First-Time vs. Repeat Buyers

• First-time buyers: 50%
• Repeat buyers: 50%
• Median age of first-time buyers: 30
• Median age of repeat buyers: 49

Buyers who definitely would use same agent again: 65%

Actions taken as result of Internet home search

• Walked through a home viewed online: 45%
• Found agent used to search/buy home: 29%
• Drove by/viewed a home: 21%

Information sources used in home search

• Internet: 74%
• Real estate agent: 69%
• Yard sign: 22%
• Open house: 12%
• Newspaper ad: 9%
• Home book or magazine: 6%

Source: 2010 National Association of REALTORS® Profile of Home Buyers and Sellers

Is life moving you – I can help!

The MLS® picture called out to the buyer. Excited they phone to say we think we have found the right one.

Reviewing the listing information it is recognized as a classic 40 year old beauty that will have the standard layout of the day. It will be a split level with a ‘L’ shaped living room dining room, an eating area, sizable kitchen with three bedrooms up. Below will be the ‘rumpus’ room, possibly a fire place, another bedroom, a bath and laundry. This one should even be more commodious as it is on a 50 foot lot facing south and on a very quiet street. At $878,00 it was a must see.

Touch Down

The appointment to view the home was arranged and upon arrival the street view greeted us with a bright, tidy and clean looking house accented by a large purple smoke bush tree – well… I think that’s what it was.

Too Many Strikes

In baseball you are only allowed three strikes when at bat. It’s not much different when a house is for sale, there are only has so many strikes before the buyer decides to walk. That walk is never to first base!

Batter Up

From the moment we got out of the car to approach the house contrary to the wonderful MLS® picture, the first oddity assaulted our eyes. The red brick relief had been painted purple to match the color of the tree. This in itself was a surprise but what was more surprising was that all the brick had not been painted. The brick hidden by the front bushes was left untouched. Strike one!

First Pitch

Entering the home we were greeted with hard wood floors. The initial thought was oh good until you realized that the wood had been stained with that long ago trendy and very short lived designer inspired ghost-white-off-pink color. There is probably a name for this colour but suffice to say most people find it atrocious and impossible to maintain. Strike two!

Rough Field

Entering the living area the first thing noticed was that the carpets have stretched beyond practical use. Large rug ridges cris- crossed the room. Fair enough, it is after all, an older home and one should expect some wear but in addition was vinyl base cove missing large sections. The explanation for this according to the listing agent, was that the missing sections accommodated the sellers furniture allowing it to be placed snuggly against the wall. First, vinyl cove and carpet don’t mix second, it was a pattern that would continue in every room. Strike three!

In the Dug Out

The kitchen – oh the kitchen! At one point it had been refitted. Recognized is that taste in finishing is unique to each individual. The problem when selling a home rests in numbers. The point of the any finishing exercise is staying with a common denominator – make it appealing to the greatest number of people. With ghost-white-off-pink hardwood floors you are limited to shades of maroon or purple. Though the cabinets were in reasonable repair the maroon color was just too much for this buyer. Additionally, the counter top had a large section that was burned beyond use and measured about two and one half feet. It needed to be replaced. Strike four!

Cups

The kitchen and eating area floor presented an amazing sight. Acknowledged is that most kitchens are high traffic areas. Accordingly due to their purpose they are prone to having liquids spilled from time to time. Oak wood does not take kindly to being wet. When wetted repeatedly, the wood will ‘cup’ as it swells with the moisture. I presumed the seller considered himself a handy man as his solution was merely to hand sand the cupped swollen ridges but for heightened effect, he didn’t bother to rematch the stain. Left were strips of raw wood and pink stain. A big strike five!

Pinch Hitters

The house had some pinch hitters. These were not your average human variety. These have four legs, fur and little tail. The squatters were not tidy about their personal dealings. They just left droppings helter skelter around the kitchen floor and inside cabinets. The listing agent acted surprised at this finding. This one is strike six!

Bat Boy

The seller continued his handy work in the bathroom and other areas of the home. It seems he had a penchant for repairing plumbing leaks with silicone caulking. This was evidenced in the bathrooms both up and down as there were large deposits of silicone attempting to hold back water and effluent. Strike seven.

On Deck

The seller also seemed to believe that you can repair roofs with vinyl decking material. Vinyl deck covering is very sturdy and when applied properly you can expect years of service. In this case it was used to mask the greater problem of plywood decking that was rotten. This handy man’s solution was to cover it with vinyl. Problem, he forgot that when you entered the garage all the stained and rotted wood was plainly evident. What was conveniently forgotten was the need to first replace the rotted plywood and a number of garage roof joists. Strike eight. It was the last strike for this buyer. It was time to walk!

Foul Balls

Sometimes some sellers never hit the ball straight. They treat their homes like flip flop sandals. When all that is left of the home is the thong that held the sandal on your foot they decide to sell. As you can imagine it is very difficult if not impossible to re-sole flip flops.

Applying this idea to a home means there is little utility left and the cost to re-sole the home when possible, is not without cost that often places the home outside of it’s market value. In this case the price of a $878,000 left little room for new leather. It is certain that the seller doesn’t understand why he isn’t getting a home run. You would think that after 79 days on the market he might get tired of hitting foul balls.

Photo Credit YatterMatters

Shattered

Ah Starbucks! That wonderful place where the elixir known as a non-fat, double hot ginger latte is dispensed into a paper cup for a paltry $6.00.

Starbucks, that place, a morning universe now in chaos, shattered by someone who had too much or too little – either a potential path to madness!

A rage it was, leaving smashed and broken glass at this Mackenzie and Broadway establishment. Resembling that which befell Cupcakes mere weeks ago. They, those mad perpetrators of this insanity, decided that a new venue for destruction was in order. A locale simple and at hand. The alluring smell of coffee must have beckoned!

Unexpected Brew

The greater majority of Canadians are a ‘get along and go along’ society. While a harmonious group, there are times when their personal rights are challenged. It is then that you can expect ‘push back’.

Sorrowful was witnessing of the destruction of our neighborhood coffee shop. Unexpected from this brew of shattered glass is the lesson within this anecdote. It is a disclosure dark with reflection of an alternate madness. One that appears by far, to be more insidious than the breaking of windows. The alternate was witnessed in that millisecond when your fingertip launches a camera’s shutter. In that brief moment, when the shutter let in the light, words fierce and loud, rang out – “You can not take a picture!”

The words heard as they escaped through the newly broken porthole, came from an impassioned barrista. Clear they were, for the multiple commands rose above the din of the busy Broadway traffic as she once again declared – “You can not take a picture!”

Photo Credit YatterMatters

Aware that this photographer was clearly within the bounds of public space, the incantation repeats. Curious of this bold attack, she is approached to be asked by what authority does she who represents this company, make such a demand? Oblivious to the petition, again the words were heard- “You can not take a picture!”.

Moby and Ahab

Like Moby Dick’s charge at Pequod, the surprise came! Realizing that the repeated demands would not be attended, the barrista assumed a likeness of Ahab’s defiant stance behind the shattered glass. As contemptuous as Ahab, she stood her ground, daring the photo be taken. Like Moby, the camera clicked as it whispered ‘push back’!

Dubious Cause

The young woman’s action prompts questions. Why was she so emphatic in her declaration that no photo be taken? Can broken glass be that important? Is one to assume that the task performed reflects an employer’s dogma that includes the subrogation of the basic tenants of individual freedoms? Is one to assume that somewhere in Starbuck’s policy it willingly places it’s employees in a position where they must relinquish their understanding of an individual’s public rights in favor of the corporation? Further, by extension, does that policy imply that they have judicial control over public space or more simply, was this an example of their bullying method to manage brand reputation? Having lived to tell the story with camera firmly in tow, can one further assume that a similar reaction might take place were photos taken without broken windows? Would Ahab be standing stand guard?

This encounter was not a favorable experience. It leaves a residue of lingering bitterness, a flavor equal to their less popular blends. Left to wonder, one asks – to what extent does corporate control extend? Are we to suppose Starbuck’s jittery perspective of individual freedoms to be nothing more than a derivative of too much dark brew or is it a perspective more in keeping with Ahab’s madness?

A Cup of Real Estate

Within this anecdote, resides themes applicable to buying or selling your home.

Negotiation is that fine art of explaining and understanding the issues as they mutate with the intensity of the moment. Correctly interpreting the ‘why’ and the ‘wherefore’ of those moments provide the map by which that magic place called ‘the deal’ is found.

Whether you are the seller or buyer, adopting the stance of a bully while shouting your position will assuredly result in counterproductive results. Left to reflection will be a myriad number of questions starting with ‘What went wrong’ and answers that are little more than a bitter cup of coffee.

Drawing a hard line in sand without understanding the impact that line may have on the other party matches Ahab’s single purpose sensibility. A position from which you can only expect shattered results.

*All references to logo’s and corporate names are the property of Starbucks Coffee Company.

**For the benefit of the innocent insolent features removed.

***Moby Dick, Ahab from the novel ‘Moby Dick’ by Herman Melville.

©YatterMatters – PNE Wheels of Steel

Hmmm? Sellers might think that the Cameron Muir, BCREA’S in house economist, is back on the kool-aid as he proclaims that a 57% drop in sales is nothing more than a whimper?

With numbers like this, sellers of Vancouver homes are more likely to think brutal, catastrophic, or something akin to the holocaust. At a 57% drop, what they see is the chance of selling their home reach the cup half empty level. While prices across the province have reached the -9% level, in the “big smoke” it is far worse. Muir himself stated an 11% decline since March of 08. Other scholars of prediction suggest the potential for a further 14% in ’09. In March of 08 the same scholar stated that “unprecedented housing market expansion will continue into 2009, as economic fundamentals and market conditions remain conducive to high sales volumes and rising prices.” The river flows and sellers today are watching the currents sweep away their personal wealth. It’s unlikely they view this as a “whimper”.

Sluggish Malaise

Quoting Muir: “Home sales were sluggish in January, reflecting an overall malaise in consumer confidence.” claiming the “large selection of homes” as the reason. Considered thought suggests that he has probably presupposed that buyers are also blithely ignoring the opportunity of a life time to jump in while the market is down.

The Reality

As heard on the street from banker types – banks are financing very few new mortgages. Instead, they are very busy packaging consolidation loans and refinancing current mortgages to lower rates.

Bravado aside, this real estate market and global financial issues has made both buyers and Vancouver home owners alert and concerned about their personal financial welfare. Both are looking at their debt loads and trying to minimize the current daily impact of their previous spending largesse. The street rumor strongly implies improbable that they would consider assuming more debt through the acquisition of a new home.

Reality Sucks

What is very real is the possibility that they may not have a job next week? According to current CUCBC circulars, “personal bankruptcies are up 42%. They are a “lagging indicator of broad measures of economic output, and further increases are likely in the coming months.” For many, this is a valid concern that Muir calls “an ever worsening economy.” From painter to candle stick maker everybody is watching to see where the economic chips fall. Within this perspective, few if any, are prepared to consider purchasing a home.

Change Afoot

Muir’s malaise suggests a vague, unfocussed, discomfort that some propose is remedied by assuming more debt with the purchase of a home. Instead, it is not a malaise at all. Rather it is a changed dynamic that is afoot where buyers and home owners are just saying no more debt! It reflects the statement that as the current “economic recession continues to deepen, small comfort can be taken from the fact that we are running up debt less quickly than before.”

It’s seems that Muir has misunderstood the new dynamic as “reports of an increasing number of consumers shopping for a home have yet to materialize in the sales statistics.” His rationale is that “The large selection of homes for sale in January likely reduced any sense of urgency for potential home buyers to commit to a purchase.” A greater possibility is that they can’t afford to buy.

It Looks Like

Counter to Muir’s lacking statistics is my visual reference exemplifying the lack of buyers. Unable to afford a ticket, the empty buyer seats full in seasons prior, now hear only the shrill whimper of Vancouver’s housing market’s winter wind!

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I’m always happy to answer your Vancouver Real Estate question. Call or send me an email Twitter or Skype me at YatterMatters.

Larry

*Disclaimer: GRAPH Courtesy BCREA. While believed to be accurate it’s representation is not guaranteed.

At present anyone can call themselves a home inspector. It is estimated there are 300 – 400 inspectors in British Columbia and while many are knowledgeable and conscientious, others are not.

Government Speak

“A home is the single biggest investment most British Columbians make, but financial risk can be the result of an incorrect or misleading report from an unqualified inspector,” said Minister John van Dongen. “Whether they’re buying their first condo or starter home, dream or retirement home, consumers need to have confidence that the person who is doing the inspection has the qualifications to make a professional assessment.”

Who’s In Charge

The Business Practices and Consumer Protection Authority (BPCPA), will register inspectors and will respond to any complaints from consumers.

When

After 31 March 2009, all home inspectors in B.C. will need to be licensed by BPCPA. However, they cannot apply for licenses until after February 27, 2009.

Need an inspector before then, be sure to ask whether they meet government requirements:

• Canadian Association of Home and Property Inspectors (BC)
• Applied Science Technologists and Technicians of British Columbia
• National Certification Program for Home and Property Inspectors
• Carry insurance
• Have had a Criminal record check

More information on licensing is available at Business Practices and Consumer Protection Authority.

Need a home inspection or have questions about home inspections email Mike via his site.

Mike Woodbridge

Woodbridge Inspection Inc.

*Mike originally qualified as an architect in England and is now a home and commercial property inspector based in Kitsilano.

**Mike Woodbridge assumes this information is deemed to be correct, but it should not be relied upon without verification.

_____________________________________________________________________________________________

I’m always happy to answer your Vancouver Real Estate question. Call or send me an email Twitter or Skype me at YatterMatters.

Larry

*Disclaimer: Statistics Courtesy REBGV. While believed to e accurate they are not guaranteed.
** Numbers provided may vary as they are dynamically posted by the REBGV.

*** This is the first in a serious of posts about home inspections to be provided by Woodbridge Inspections Inc. YatterMatters assumes no responsibility for the accuracy of statements made by Mike Woodbridge or Woodbridge Inspections Inc. While believed to be accurate the information is not guaranteed and should not be relied upon without verification.

Preparation

Vancouver real estate’s falling prices has caused people to take extraordinary measures in their attempt to make the process of buying their home enjoyable and painless.

Instructions

Realtors often provide guidance on the best way to get the most out of selling your home. Painting your front door, repairing leaky faucets or baking muffins are some of the basics. Always on the alert for new ways to market your home, some Realtors and sellers adapt to new ideas quickly and without reservation.

Rest Spot

The snow in Vancouver has brought forth a new idea on Dunbar street. After parking their car and trudging through a block of slushy snow, buyers anxious to view the home are treated royally. Considerate to the end, this seller provided reserved space so that any buyer could rest and have the opportunity to appreciate the neighbourhood.

Only In Our Town

Where else, except in Vancouver! It’s a kind city flooding with kind gestures for those in need. The forethought of providing chairs in which Buyers might sit and rest after their arduous journey is a testament to that kindness.

Unbridled, good wishes demanded room for two. It is with tongue in cheek certainty that hot chocolate and left over Christmas pudding will appear upon ringing of the door bell.

Courtesy of course, demands that viewing appointments are arranged in advance as space is limited.

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I’m always happy to answer your Vancouver Real Estate question. Call or send me an email Twitter or Skype me at YatterMatters.

Larry

Photo Credit Unattributable

Unplugging

This post was to highlight the latest numbers for Vancouver real estate’s now flushed market showing the 2008 Residential benchmark price in decline at -10.9%.

Seeking relief from the task at hand, the original post was unplugged in favor of opening an email that revealed this picture.

Clean Laundry

Reflecting on the picture, it was concluded that words in the picture were not spiffy clean and might offend some people. However, the message within offered something more important than sterile reporting of Vancouver real estate statistics and pushed to be presented. As a real estate blog where things such as disclosure are discussed, the sign’s appeal rests in it’s unfettered directness. For the buyers of Vancouver homes who seek transparency, the message is clearly unsoiled.

Private

Buyers inevitably ask why the sellers are moving. Providing an answer for that question is not always possible. Many sellers consider their reasons private and choose not to disclose that information to their Realtor.

Telling All

Contrary to the above, this seller is all about full disclosure. The question is answered with a message that candidly declares their reason for selling.

The unanswered question – would buyers consider the reason a patent defect?

_____________________________________________________________________________________________

I’m always happy to answer your Vancouver Real Estate question. Call or send me an email Twitter or Skype me at YatterMatters.

Larry

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Photo Credit

Christmas Spirit

Once again Santa delivered lumps of coal to the local Cupcakes store on West Broadway.

Memory serves that in time for Christmas the windows had been replaced. This latest act of aggression is the third lump delivered this December. It’s enough to flattened anyone’s cake.

All or Nothing

This time the Grinch decided that one window was insufficient. They smashed every window in the place. Now, the store is completely boarded up including the entrance.

Off the List

Rationale for retribution exists somewhere in the snow. A guess is that some Elf is really pissed because they were left off the Cupcake list. It seems overt that such vandelism would result from not getting enough icing on your cake.

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I’m always happy to answer your Vancouver Real Estate question? Call or send me an email Twitter or Skype me at YatterMatters.

Larry